Results 1 to 3 of 3

Math Help - Need some logical assistance

  1. #1
    Newbie
    Joined
    Jan 2008
    Posts
    2

    Need some logical assistance

    In 1820 my GDP is $8000, workforce is 500, share employed is 70%, what is my population? what is my output per worker? and what is my GDP per capita?

    In 1830 my GDP is $12000, workforce is 600, share employed is 75%, same questions as above.

    Thanks
    having a brain freeze!!!
    Follow Math Help Forum on Facebook and Google+

  2. #2
    MHF Contributor
    Joined
    Aug 2007
    From
    USA
    Posts
    3,111
    Thanks
    2
    500 is 70% of what?

    600 is 75% of what?

    Output / Worker = GDP / Workforce

    Output / Capita = GDP / Population

    Plug 'n' Chug! Let's see what you get.
    Follow Math Help Forum on Facebook and Google+

  3. #3
    Newbie
    Joined
    Jan 2008
    Posts
    2

    thanks for the assistance

    500 is 70% of what? and 600 is 75% of what?

    I am assuming I can use the formula, portion=ratexbase. If so,
    for the first I get 714.285 and for the second it's 800.

    Since 70% of the entire workforce(500) is employed, this would be 350 people actually working from the available workforce.

    The second portion; 75% of the workforce(600) is employed, this would be 450 people actually working from the available workforce.

    If I want output per worker, I take the GDP and divide it by the actual people working; 8000/350 = 22.86 for the first and 12000/450 = 26.67

    As for the GDP per Capita; for the first; 8000/714.28 = 11.20 and for the second; 12000/800 = 15

    I believe this makes sense to me. Am I on the ball now?
    Thanks for your assistance
    Ciao
    Not confused anymore
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. assistance please
    Posted in the Algebra Forum
    Replies: 21
    Last Post: November 20th 2010, 03:27 AM
  2. Prove/disprove using logical using logical arguments
    Posted in the Discrete Math Forum
    Replies: 5
    Last Post: February 24th 2010, 06:29 AM
  3. Replies: 3
    Last Post: January 21st 2010, 07:45 AM
  4. I need assistance
    Posted in the Algebra Forum
    Replies: 1
    Last Post: July 12th 2008, 11:37 PM
  5. Need assistance...please
    Posted in the Calculus Forum
    Replies: 0
    Last Post: April 28th 2008, 02:25 PM

Search Tags


/mathhelpforum @mathhelpforum